Financial / Results – Page 69
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News AnalysisBI test case was ‘a difficult moment during the year for RSA’ says UK boss
The insurer’s chief executive for UK and international business admitted that ‘there’s work to be done in 2021’ around business interruption coverage and reputational repair
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NewsLive music and insurance industries call for government backstop for Covid cover
To provide the confidence and security to restart live music events this summer, the insurance and music sectors believe the government must ‘bridge the gap for coronavirus cancellation insurance’
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NewsAvid Insurance makes first acquisition with construction MGA buy
Avid’s chief executive says that the transaction is a ’big step’ towards its medium-term growth ambitions
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NewsArdonagh to invest in M&A broker
The broker’s 17-strong team will join Ardonagh upon completion of the deal
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Newsiprism unveils product for unoccupied properties
Brokers expect an increase in unoccupied commercial properties as a result of economic disruption
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NewsInsurtech UK calls for end to VAT regime for insurtechs ahead of Spring Budget 2021
The trade body discusses the challenges that insurance premium tax causes the insurtech sector in the run up to the topic potentially being debated later this week on 3 March
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People & OpinionQ&A: Pearson Ham on the post-Covid-19 hard market as a ‘opportunity for insurers’
Stephen Kennedy, Pearson Ham’s director tells Insurance Times why the hardening market post-covid could be an opportunity for insurers alongside discussing challenges ahead
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News AnalysisRSA’s UK&I business ‘is absolutely on track’ despite being ‘heavily impacted by Covid’
Chief executive Scott Egan says he is ‘really excited’ by RSA’s acquisition and that broker partnerships are ‘key to our success’
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NewsThe Big Question March 2021: How do the current market conditions compare to previous ones for professional liability classes?
With the UK set for an economic downturn amid Covid-19, professional liability classes have had quite a ride as a result. Insurance Times asked industry experts how the current market compares to previous ones for this line of business
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NewsThe future of MGAs will be defined by data – Willis Re
Overseas capacity providers are attracted to the UK market, but especially to businesses that have generous data capabilities
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NewsRSA reports £166m hit from Covid-19 for 2020
The insurer paid out £259m in group-wide claims costs pertaining to the coronavirus pandemic
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NewsAXA reports 3% drop in gross revenue for UK and Ireland in 2020
The insurer has also sought to minimise future exposure to Covid-19 claims by using exclusions within its business interruption and event cancellation policies
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NewsFour-month implementation period for FCA’s price walking remedies is a ‘joke’ – ABI
Despite potential implementation challenges, the trade association’s director general is ‘very hopeful’ that the proposed ‘road map’ with the FCA will solve the loyalty penalty ‘once and for all’
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NewsRun-off sector braced for growth as insurers tackle legacy challenges
Deals within the Lloyd’s market has been a key driver of escalated run-off transaction figures
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NewsGeneral insurance market faces ‘fundamental changes’ – EY’s Tony Sault
Tony Sault, EY’s head of general insurance, tells Insurance Times what challenges the insurance industry might face over the next few years following the fallout from the pandemic, the Supreme Court business interruption case and the FCA’s pricing review
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NewsAviva to exit Turkey
The transaction is expected to complete this year, but is subject to closing conditions and regulatory approval
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NewsAgeas UK records 2% drop in gross income for 2020
Chief executive says the business has ‘a solid foundation on which to build’ for this year
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NewsCommercial insurance pricing up by 44% in UK – Marsh
Global commercial insurance pricing was also up by 22% in Q4 2020
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NewsFCA issues new guidance for the treatment of vulnerable customers
The regulator has put forward this guidance to generate consistency in the treatment of vulnerable customers
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NewsAviva approves €3.2bn sale of its French business
Aviva’s capital and liquidity has been strengthened with an increase in excess capital of around £2.1bn
